CRE This Week: What's impacting the Canadian market
April 29, 2026 - Canada commercial real estate market insights, indicators, and notable transactions
April 29, 2026
Welcome to the latest edition of CRE This Week, curated by Altus Group’s Canada research team.
Our team has handpicked new and noteworthy market indicators, articles, and significant industry transactions that are impacting Canada's commercial real estate sector. We understand that your time is valuable, so we're excited to deliver research that helps you stay informed and saves you some time each Wednesday morning.
FEATURED TrANSACTIONS
Canada property transactions
Greater Toronto Area: Apartment
Amica Peel Village, Brampton
$93,683,869
$589,207 per unit
Greater Vancouver Area: Industrial
8971 Beckwith Road, Richmond
$3,980,000
$729 per sq. ft
Brokers: Rick Liu (NAI Commercial)
Greater Calgary Area: Office
117 & 119 8th Avenue SW, Calgary
$5,650,000
$365 per sq. ft.
Brokers: John Oliverio (Re/Max House of Real Estate)
Greater Montreal Area: Industrial
2605-2615 Marcel Street & 2605-2855 Duchesne Street, Saint-Laurent
$51,000,000
$327 per sq. ft.
Greater Toronto Area
Sector | Municipality | Address | Price | Unit Price | Parameters |
|---|---|---|---|---|---|
Industrial | Mississauga | 6005 Erin Mills Parkway | $50,000,000 | $278 | per sq. ft. |
Hotel | Pickering | 533 Kingston Road | $27,000,000 | $184,932 | per room |
Apartment | Old Toronto | 630 Vesta Drive | $26,130,000 | $378,696 | per unit |
Greater Vancouver Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Retail | Vancouver | 1047 Denman Street | $3,420,000 | $1,966 | per sq. ft. | |
Office | Vancouver | #550 & 560, 1438 Robson Street | $2,850,000 | $1,100 | per sq. ft. | Brayden Sanga. Andre Alie Day (CBRE) |
Apartment | Chiliwack | 9091 Mary Street | $2,300,000 | $209,091 | per unit | Carey Buntain, Kevin Murray, Bijan Lalji (Avison Young) |
Greater Calgary Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Retail | Calgary | 3745 Memorial Drive SE | $5,030,000 | $270 | per sq. ft. | |
Apartment | Calgary | 2712 & 2716 Brentwood Boulevard NW | $1,800,000 | $150,000 | per unit | Jonathan Pendlebury (Real Broker) |
Office | Calgary | 601 67th Avenue SW | $1,320,000 | $630 | per sq. ft. |
Greater Montreal Area
Sector | Municipality | Address | Price | Unit Price | Parameters |
|---|---|---|---|---|---|
Retail | Châteauguay | 184-246 D'Anjou Blvd | $10,500,000 | $487 | per sq. ft. |
Retail | Laval | 4530 Desserte Laval West | $10,400,000 | $355 | per sq. ft. |
Apartment | CDN-NDG | 4040-4170 Kindersley Ave | $7,900,000 | $219,444 | per unit |
Construction costs coming down in Toronto and Vancouver
Our 2026 Canadian Cost Guide showed varying trends across the country. However, Toronto and Vancouver saw overall construction costs decrease in the past year, driven primarily by distressed residential and construction sectors. All other markets are moving decisively in the opposite direction, despite primary pressure points being remarkably consistent nationally.
Figure 1: Altus Group’s 2026 Canadian Cost Guide is out now
National office construction pipeline has reached a multi-year low
Q1 2026 saw 17 buildings totalling 2.8M square feet under development. Vancouver’s eight projects totalled over 592,000 square feet with 87.6% availability, while Toronto’s seven projects totalled nearly 2.1 million square feet with a far lower availability rate of 18.2%.
Figure 2: Office under construction and availability (Q1 2026)
INSIGHTS Spotlight
Catch the latest research and insights from Altus
Cautious in 2026, optimistic for 2027: Cost Guide insights
Our Development Advisory experts break down 2026 Canadian construction cost trends by city.
Canadian office market update – Q1 2026
The national office market maintained a path toward recovery in Q1 2026, building on the robust leasing momentum and market strengthening that we observed in 2025.
About our research team
Edward Jegg
Research Manager, Data Solutions
Altus Group
Edward Jegg serves as a Research Manager on the Data Solutions team at Altus Group, leveraging over 35 years of extensive experience in the commercial real estate sector to deliver market intelligence to the industry. Jegg plays a key role in creating and disseminating detailed market reports across Canada, providing stakeholders with timely insights for investment decision-making. Jegg is a recognized expert, frequently offering media commentary on real estate trends and recently receiving the prestigious Chair's Award of Merit from BILD for his outstanding contribution to the field.
Jennifer Nhieu
Senior Research Analyst, Data Solutions
Altus Group
Jennifer Nhieu is a Senior Research Analyst, Data Solutions with Altus Group, where she specializes in providing timely, data-driven insights into the Canadian market. Leveraging her background in commercial real estate and geographic information science, Jennifer is a key contributor to Altus Group’s quarterly research insights. She transforms complex data sets into clear, actionable intelligence, helping stakeholders make informed decisions.
About the Data Solutions team
Behind every update in our newsletter is the work of our Data Solutions team, a group dedicated to keeping you informed on commercial real estate activity across Canada. From Vancouver to Toronto (and everywhere in between), they track transactions, visit properties, and add the local context that numbers alone can’t capture. Their work goes beyond deals, by providing insights into new home developments and sales trends, as well as detailed office and industrial inventory data across key markets, from Montreal and Calgary to Winnipeg, Quebec City, and Atlantic Canada.
Disclaimer: The opinions expressed in this newsletter are solely those of the authors and are not endorsed by Altus Group Limited, its affiliates and its related entities (collectively “Altus Group”). This publication has been prepared for general guidance on matters of interest only and does not constitute professional advice or services of Altus Group. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy, completeness or reliability of the information contained in this publication, or the suitability of the information for a particular purpose. To the extent permitted by law, Altus Group does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. The distribution of this publication to you does not create, extend or revive a client relationship between Altus Group and you or any other person or entity. This publication, or any part thereof, may not be reproduced or distributed in any form for any purpose without the express written consent of Altus Group.
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